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Officially announced on August 29, the British luxury sportscar manufacturer is to launch an initial public offering (IPO) before the end of the year.
Aston Martin is planning to list its shares on the London Stock Exchange, but the timing and location are yet to be confirmed. Reportedly, the Company hopes to help investors overcome fears over potential U.S. tariffs on foreign vehicles, as well as the impact of the UK exiting the European Union in March 2019.
"Today's announcement represents a key milestone in the history of the company, which is reporting strong financial results and increased global demand for its award-winning sports cars,” said Andy Palmer, CEO, Aston Martin in a statement. “As we continue to execute our Second Century plan, combining a product offensive and expanding manufacturing footprint, we have the resources and balance sheet strength to continue delivering on our growth strategy.”
Some analysts say the IPO would value Aston Martin at US$6-7 billion. The Company would list about 25% of its shares on the stock market.
Sources: CNN/Motor Authority